When governments go bust no one gets to be treated as a favourite, everyone has to take their lumps along with all others.
But a later one by Courtney Coile and Phillip Levine, both of Wellesley College, found that the stockmarket boom in the 1990s and its subsequent bust had no measurable impact on overall labour supply.
But if the GP practice is hidebound by oversight, and the competition body Monitor, which was originally designed to drive inefficient hospitals bust can no longer do so, it is hard to see the central argument of the reforms operating.
So, if the private banks are a no show, a deflationary bust will be in the making.
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By that time, the dot-coms had gone bust, and no one even wanted to think about going public.
Until the failure in November last year of Hanwa Bank, a middling regional bank, no Japanese bank had gone bust since the second world war.
"The holiday season is no longer black Friday or bust, " he wrote, "it's really becoming Black November" as retailers shovel out deep discounts in anticipation of black Friday.
So far no big company has gone bust.
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Since the finance ministry had long decreed that no big bank would go bust until May 2000 and had pretended that many were solvent, it is a safe bet that the men from the ministry connived with the dodgy banks that were trying to disguise their losses.
In mid-1995, the then finance minister, Masayoshi Takemura, said, after the closure of Hyogo Bank, that no other big banks would go bust.
One thing is certain: no bank executive whose bank went bust would ever move right over to another bank and pick up again with rich bonuses because the insurers would withdraw coverage and depositors would flee.
He also claims his record since the tech bust proves he's no trick pony.
No state illustrates this pattern of boom, bust and forced boom better than California.
The last time, he and his daughter simply quit the week the company went bust so he could say he no longer had a role in the company and even though it had his name on it.
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One of his most enduring characters is La Calavera Catrina, a female skeleton in an elaborate low-cut dress and flamboyant flower-covered hat, suggestively revealing a bony leg and an ample bust that is all ribs and no cleavage.
It is clear now that in no circumstance will Clearwire default on anything, much less go bust.
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This generation recognizes that a boom or bust approach to the world beyond our borders is no longer an option.
However, interestingly, there is no evidence that more private-equity-owned companies went bust in the great recession of 2008-9 than other kinds of firms - although there is plenty of evidence of private-equity-owned companies with large debts feeling very vulnerable.
No, this is when a bank is insolvent, is actually bust, and we need to recognise that fact.
Then the dot-com bust hit, leaving Kurth with a pink slip and no idea what to do next.
But, according to George Buckley of Deutsche Bank, the base rate would have to rise from its current 38-year low of 4% to around 7.5% to precipitate a full-scale bust, and he is expecting rates to rise to no more than 5%.
"Gift cards are essentially IOUs, but if a company goes bust, or into administration, whoever has the gift has no rights at all, " explains Paul Lewis, presenter of BBC Radio 4's Money Box.
Banks had made practically no provisions against loans to Mycal, a big supermarket chain, before it went bust last month.
No use making a bet on a rebound in oil prices if your chosen company goes bust before the rebound comes.
And the reason no one knows is because there is a major debate - and that probably means another huge bust up - between the US, the UK and the EU over precisely that.
Now, no single step is the silver bullet that will reverse the damage done by the bubble-and-bust cycles that caused our economy into this slide.
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